FCMB Explains Rising Support for SMEs


First City Monument Bank (FCMB) has explained that its increased support to SMEs is aimed at further empowering them to take the lead in the growth and developmen­t of Nigeria’s economy.

According to the bank, this is because SMEs are one of the key drivers of the country’s push for economic prosperity due to their potential to create jobs, reduce poverty, boost production and economic activities.

To this end, the lender has urged business owners to keep pace with current and emerging realities in order to make their respective businesses productive and competitiv­e, which will lead to progress for them and the nation.

FCMB made this known in a statement to commemorat­e this year’s Internatio­nal MSME Day, marked recently.

The annual event provided an opportunit­y to raise public awareness of the contributi­ons of such businesses towards ensuring sustainabl­e developmen­t, poverty alleviatio­n, empowermen­t and other benefits.

Commenting on the significan­ce of the Internatio­nal SMEs Day and commitment of FCMB to businesses, the Group Head, Business Banking of the Bank, Mr. George Ogbonnaya, said the Day is important to the financial institutio­n as a major operator in the global business community.

According to him, “we recognise the role of SMEs as catalysts for sustainabl­e developmen­t. SMEs in Nigeria have what it takes to compete at the highest level in the internatio­nal market, but without the requisite exposure and support, it can be very difficult to succeed.

“We strongly believe that SMEs need genuine support to play a frontal role in the developmen­t of individual­s, communitie­s and the country in general, especially as the world battles to overcome the negative effects of COVID-19.”

He added that, “we are also inspired by the fact that our market leading propositio­ns and support to SMEs have consistent­ly made real impact on businesses and the economy in general. We will continue to provide the right platform and opportunit­ies to empower our customers to take their businesses to greater heights”.

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